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Reuters reported that Molycorp (NYSE:MCP) shares have increased again over news the company will make another rare earth acquisition.
Reuters reported that Molycorp (NYSE:MCP) shares have increased again over news the company will make another rare earth acquisition.
The market news is quoted as saying:
Molycorp says its new mines in Arizona will immediately produce rare earth materials that can make “neodymium iron boron” magnets, which are used in hybrid and electric cars and wind turbines, and “samarium cobalt” magnets, which are used in defense applications.